We can still find bargains in tech, despite the big gains since the October lows

Back on January 9, 2023 I suggested going long the Mega Cap 8, in my stock letter. This meant GOOGL, AMZN, AAPL, META, MSFT, NFLX, NVDA, TSLA.

As of the close June 2, 2013 they were up 68.2% vs. 12% for the S&P 500 and 24.8% for Nasdaq.

The best two performers were NVDA and META up 154% and 114%. But even the worst in the group, or AAPL, beat Nasdaq, because it is up 39%.

Also, on January 9 I suggested ten chip stocks, or NVDA, TSM, AMD, MCHP, ADI, NXPI, ON, QCOM, AVGO and ASML. As of the close June 2 they were up 38.3%. So, they beat both Nasdaq’s 24.8% gain and the 31.4% gain for the chip ETF SOXX.

The bad news is most of these stocks are more holds than buys, by now. The good news is that there is tech that still looks buyable, based on where insiders see value. I suggested four in my stock letter on June 4. Already one of them, GTLB, is up 38%. That is a hold now, too. But I would consider adding if it falls back below my $44.60 buy limit.

For news on the other three tech names to consider buying, and new suggestions based on insider buy signals and my analysis of company trends, consider subscribing here.

We are in the early stages of a new bull market. Historically after the market rises 20% it goes on to rise in the subsequent year 92% of the time by an average of 9%. Fundamental economic, technical and sentiment trends also tell us a bull market lies ahead.